Forum Financial Management LP Purchases 2,917 Shares of Broadcom Inc. (NASDAQ:AVGO)

Forum Financial Management LP boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,173 shares of the semiconductor manufacturer's stock after buying an additional 2,917 shares during the period. Forum Financial Management LP's holdings in Broadcom were worth $7,691,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Canton Hathaway LLC bought a new stake in Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $28,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $32,000. Finally, Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $33,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVGO. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Mizuho decreased their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Finally, Bank of America dropped their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Down 0.8%

Broadcom stock opened at $228.72 on Friday. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm's 50-day simple moving average is $190.82 and its 200 day simple moving average is $201.27. The stock has a market cap of $1.08 trillion, a PE ratio of 186.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom declared that its board has authorized a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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